Evolution of the travel services balance: April 2022

06/21/2022 – Press releases

-The balance of travel services shows a surplus of €432.1 million in April 2022 and a surplus of €633.0 million in January-April 2022.
-In 2019last year before the pandemic, the travel services balance showed a surplus of €211.1m in April and €375.7m in January-April 2019.
-Travel receipts were 1,000.4% higher in April 2022 and 576.7% higher in January-April 2022 compared to the corresponding periods of 2021.
-Compared to the respective periods of 2019travel receipts increased by 19.0% for April 2022 and decreased by 13.4% for January-April 2022.
-Inbound traveler flows were 884.3% higher in April 2022 and 462.7% higher in January-April 2022 compared to the corresponding periods of 2021.
-Compared to the respective periods of 2019incoming passenger flows increased by 7.5% in April 2022 but fell by 27.1% in January-April 2022.

Travel services balance
Based on provisional data, the balance of travel services in April 2022 recorded a surplus of €432.1 million, compared to a surplus of €3.2 million in April 2021. Specifically, travel receipts in April 2022 increased by 1,000.4% to 647, €0 million, compared to €58.8 million in April 2021, while travel payments also increased by 286.1% (April 2022: €214.8 million, April 2021: 55.6 millions of euros). The increase in travel revenue stems from an 884.3% increase in inbound traveler flows and a 7.7% increase in average spend per trip. Net receipts from travel services offset 14.7% of the goods deficit and contributed 53.0% to total net receipts from services.

In January-April 2022, the balance of travel services showed a surplus of 633.0 million euros, compared to a surplus of 18.4 million euros over the same period of 2021. 337.1 million or 230.0% to 483, 7 million euros. The increase in travel revenue is attributed to a 462.7% increase in inbound traveler flows, as well as a 17.1% increase in average spend per trip. Net receipts from travel services offset 5.4% of the goods deficit and contribute 33.3% to total net receipts from services.

Travel receipts
In April 2022, as mentioned earlier, travel revenue increased by 1,000.4% year-on-year. Specifically, receipts for residents of EU27 countries increased by 822.0% to €344.8 million, while receipts from outside the EU27 increased by 1,200.8% (April 2022: €278.3 million, April 2021: €21.4 million). The increase in receipts from the EU27 is attributed to the increase in receipts of euro area residents by 842.6% to €310.4 million (April 2021: €32.9 million) and receipts of residents of non-euro area EU27 countries by 669.5% to 310.4 million euros. 34.4 million.

Specifically, among the top eurozone source countries, receipts from Germany increased by 951.3% to €111.7 million and receipts from France increased by 1,530, 6% to 75.4 million euros. With regard to non-EU27 countries, UK receipts increased significantly to €80.9 million and US receipts to €33.0 million. Receipts from Russia also increased by 77.4% to €2.0 million.

In January-April 2022, travel receipts amounted to EUR 1,116.7 million, up 576.7% compared to the same period of 2021. This development is due to the increase in receipts of EU27 residents by 472 .1% to 582.2 million euros and receipts of non-EU27 residents by 698.0% to 504.6 million euros. Specifically, receipts for residents of the euro area increased by 514.7% to €495.4 million, while receipts for residents of non-euro area EU27 countries increased by 310.1% to 86.9 million euros.

In particular, receipts from Germany increased by 533.7% to €177.7 million and receipts from France increased by 1,113.4% to €99.0 million. Looking at non-EU27 countries, UK receipts increased by 1,229.8% to €128.0 million, while US receipts increased by 2,098.1% to €67 .4 million euros. Receipts from Russia also increased by 503.0% to 7.8 million euros.

Flow of incoming travelers
The number of inbound travelers in April 2022 increased by 884.3% year-on-year to reach 1,056.0,000. road border crossings, by 427.5%. This overall increase is due to an increase in flows of travelers from both the EU27 (up 874.7%) and outside the EU27 (up 897.4%). Specifically, the number of travelers from the euro area increased by 1,012.4% to 471,700, while travelers from non-euro area EU27 countries increased by 571.9% to 129,700. .

Specifically, the number of travelers from Germany increased by 1,113.0% to 149.9 thousand and travelers from France increased by 2,434.1% to 92.4 thousand. With regard to non-EU27 countries, the number of travelers from the United Kingdom increased considerably to 123,300, as did the number of travelers from the United States to 41,600; travelers from Russia also increased by 566.8% to 2.9 thousand.

In January-April 2022, the number of inbound travelers increased by 462.7% to 2,128.7 thousand (January-April 2021: 378.3 thousand). Specifically, passenger flows through airports increased by 774.4%, as did passenger flows through road border crossing points, by 258.1%. During the period under review, the number of travelers from the EU27 increased by 440.4% year-on-year to 1,193.7,000, while travelers from outside the EU27 increased by 493.9% to 935.0,000. The number of travelers from the euro area increased by 558.6% and the number of travelers from non-EU27 countries euro zone increased by 253.0%.

Specifically, travelers from Germany increased by 507.9% to 301,300 and travelers from France increased by 1,102.9% to 146,100. travelers from the United Kingdom increased by 1,048.0% to 214,900, while the number of travelers from the United States increased considerably to 79,300 and from Russia by 1,050.7% to 11,600 .

Comparison with 2019, the last year before the pandemic
In April 2022, compared to April 2019, travel receipts increased by 19.0%. Average spending per trip also increased, as did inbound tourist flows, by 15.0% and 7.5%, respectively.

In January-April 2022, compared to January-April 2019, travel receipts decreased by 13.4%. Average expenditure per trip increased by 20.3% and inbound tourist flows decreased by 27.1%.

To notes:
1. Inbound passenger flows exclude cruise passengers other than those recorded in the border survey.
2. In order to allow a better understanding and complete capture of the evolution of the balance of travel services, the tables accompanying this press release also include the percentage changes compared to the respective periods of 2019, the last year before the pandemic .

Related information:
The next press release “Evolution of the balance of travel services” for May 2022 will be published on July 22, 2022, in accordance with the Early Release Schedule published on the Bank of Greece website.

Related link:
Detailed and definitive data on the balance of travel services are published in the travel services section of the Bank of Greece website.